It is understood that up to 100 people will be affected by the announcement.

The company released the following statement this morning:

"It is with regret that we have to announce the proposed closure of our
business. We have arrived at this difficult decision because of adverse
trading conditions.

"The price we pay for pigs has risen by £32.74 between January 2008 and
August 2008. Our trading costs have risen by £4500.00 per week in the last 12 months. These costs: - Electricity + 40% and oil + 37%.
Businesses in Northern Ireland have the highest electricity costs in the UK.

"We very much regret this decision as it affects both our pig suppliers,
customers and employees who have been loyal over the years.
We would like to emphasise that all our creditors will be paid in full."

DUP MLA for North Antrim Mervyn Storey has expressed concern at the news of job losses at Stevenson pork processors in Cullybackey.

The business which has been in operation since 1850 has been based at the Cullybackey site since the 1980's.

Mr Storey said: "This is a major blow, not just for the North Antrim area, but particularly for the pig industry across Northern Ireland. I have been in discussions with the owner of the company regarding the full extent of the problems they are facing as well as with the Minister for Enterprise Trade and Investment.

"The Minister has assured me that if there is anything which her Department can do to help this company then she will ensure that action is taken.

"Unfortunately however, the future for this plant looks bleak but I will be continuing to do all I can, alongside colleagues to see what all the options are for the future.

"My first thoughts must be with those people employed with the company who will be most directly affected by the job losses but I am also obviously concerned about the wider effect on the pig industry in Northern Ireland.


"Pig farmers will obviously be concerned at the reduction in competition within the marketplace and what this will mean for the future.

"However, this company is one of the smaller local processors who have been very badly affected by the increasing cost of energy and other inputs. Whilst larger companies may be able to absorb these costs for longer, smaller processors like Stevensons are obviously not able to bear that kind of cost.

"The pig sector is no different to the rest of agriculture, or to any other business. It is vital that every sector has to receive a fair slice of the margins which are available. This means that farmers, processors and the retailers all must see a return for their work and their produce. Unfortunately if one of these cannot survive then there is obviously a knock-on effect right throughout the chain of production."

Jim Allister MEP has said he was saddened to learn of the planned closure of Stevenson & Co.

Mr Allister commented: "The closure of Stevenson & Co is bound to have a significant impact on the local pork industry. The exiting of one of the few remaining major pigmeat processors is further evidence of the difficulties the local pig sector finds itself in.

"This industry has been waiting on Government assistance for some time now, but to little avail. In the Republic, 40% grant aid up to a maximum expenditure of 300,000 Euros per holding has been made available for sow housing. Here, the Executive is only committing a maximum of just £5000 aid per holding, to assist producers.

"Indeed, it would seem DARD's priorities centre on offloading costs to producers and processors, evidenced by its current cost and responsibility sharing proposals, rather than in ensuring jobs within agriculture are safeguarded."

Ballymena Councillor Roy Gillespie said: "My thoughts go out to the 100 workers who have been redundant by the decision to close the factory. Obviously, the timing will be difficult for staff as they will be out of work approaching the Christmas season. It is also sad to see the end of such a long established family business

"I recognise that the closure of a major pig processing facility is bound to impact on local pig farmers. Furthermore, I will be pressing authorities to ensure that new jobs are created as quickly as possible in the Cullybackey area."